Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)

Banking Stocks Trading Near Major Resistance

40 sec read


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Banking Sector is Trading Near Major Resistance. If the sector
Reverses then it is good to short Banking Stocks Like ICICI
SBI, PNB, AXS for your valuable reurns. And if Any of the
Stock fall and close below 21 DAY moving Average dont forget
to short immediately
 
ICICI BANK – Rs 636 – Bearish  Engulfing Pattern  – Already Bearish Signal in the chart
21 DAY EMA – Rs 644.7
Stop Loss – 655
 
SBI BANK – Rs 1387 – Bearish  Engulfing Pattern – Short Only Below 1326 – Catious
21 DAY EMA – Rs 1326
Stop : 2% above the 21 DAY EMA
 
PNB Bank : Rs 464 – Bearish  Engulfing Pattern – Short Only Below 445 – Cautious
21 DAY EMA – RS 445
Stop : 2% above the 21 DAY EMA
 
AXIS BANK – Rs 679 –Bearish  Engulfing Pattern  – Already Bearish Signal in the chart
21 DAY EMA – RS 679.3
 
 
ICICI & Axis Bank Looks Like a Good for Shorting if Market reverses
SBI & PNB Bank may revese if nifty is turning upside. Nifty Resistance is currently at
4350
 
Happy Trading
 
 
 
 
Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)

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